McKinley Carter Wealth Services Inc. Sells 1,513 Shares of Accenture plc (NYSE:ACN)

McKinley Carter Wealth Services Inc. trimmed its position in Accenture plc (NYSE:ACN - Free Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,302 shares of the information technology services provider's stock after selling 1,513 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in Accenture were worth $3,839,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ACN. Visionary Wealth Advisors raised its holdings in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after purchasing an additional 26 shares during the last quarter. Vivaldi Capital Management LP grew its stake in shares of Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after buying an additional 27 shares in the last quarter. FPC Investment Advisory Inc. boosted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after purchasing an additional 28 shares during the period. New England Professional Planning Group Inc. boosted its position in Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock worth $230,000 after purchasing an additional 29 shares during the period. Finally, Nemes Rush Group LLC boosted its position in Accenture by 7.5% during the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock worth $147,000 after purchasing an additional 29 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer now owns 15,882 shares in the company, valued at approximately $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Down 2.1%

Shares of NYSE:ACN traded down $6.76 during trading on Friday, reaching $311.37. 3,102,635 shares of the company traded hands, compared to its average volume of 2,958,031. The firm has a market capitalization of $195.02 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 3.23 and a beta of 1.33. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The business's fifty day moving average is $305.50 and its 200-day moving average is $335.58.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 earnings per share. As a group, analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.90%. Accenture's dividend payout ratio is presently 48.89%.

Analysts Set New Price Targets

Several research firms recently weighed in on ACN. Barclays cut their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Piper Sandler reduced their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley cut their price target on Accenture from $372.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday. Stifel Nicolaus cut their price target on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Robert W. Baird upgraded Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a report on Monday, March 17th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $382.15.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.